See the latest Australian dollar analysis here:
The Shanghai Composite is setting the mood here in Asia by treading water around a tight range, although it briefly dipped below the 3000 point barrier earlier in the session it looks sit to finish a very dull week indeed. The Hang Seng Index is also putting in yet another scratch session, little changed at 28827 points, still unable to make good on the previous breakout but still holding on above the previous set of highs at 28500:
Japanese share markets are treading water with no leads or economic events to go on although the recent household spending survey was much better than expected. The Nikkei 225 is up only a handful of points currently at 21719 points, still unable to make a substantive new session high. The USJDPY pair is very slowly melting high, almost up to the 107.80 level as traders await the return of the US desk, hopefully with all their fingers still attached after playing with fireworks overnight:
The ASX200 made another new record high today and is currently up 0.7% to 6768 points, as everyone goes all in on another new bull market with no risks whatsoever /s. The Australian dollar is putting currency traders to sleep, barely moving out of a 10 pip range all day and may wake up later tonight on the NFP print:
S&P and Eurostoxx futures are up slightly with US stocks returning from the Independence Day holiday overnight (although they may need to tip Russian tea in the harbour next time around). The four hourly chart of the S&P500 shows the market wanting to punch through the 3000 point level with no one in the way, except fundamentals of course:
The economic calendar finishes the week with the most important event on the calendar – US unemployment or non-farm payrolls. Have a good weekend!